Malaysia to regulate initial coin offerings, cryptocurrency trade

KUALA LUMPUR (Reuters) - Malaysia will regulate initial coin offerings (ICOs) and the trade of cryptocurrencies, the finance minister said in a statement on Monday.

The minister said an order to recognize digital currencies and digital tokens as securities will come into force on Jan. 15, under the regulation of the Securities Commission Malaysia.

The commission is expected to launch a framework by end of the first quarter, putting in place “the relevant regulatory requirements for the issuance of ICOs and the trading of digital assets at digital asset exchanges in Malaysia”, the finance minister said.